SA Asks: Which stocks could benefit from the Golden Dome project?

Which stocks could benefit from the Trump administration’s proposed multi-billion dollar Golden Dome defense project?

We asked Seeking Alpha analysts Leo Nelissen, Dhierin Bechai and Cappuccino Finance for their thoughts.

Leo Nelissen: The Golden Dome program is tricky, as it needs to be seen just how big it could become. While initial estimates call for a $175 billion budget, long-term spending could exceed $800 billion, according to the Congressional Budget Office. Also, if history is any indication, we could be looking at more than $1 trillion in spending.

Personally, I expect all major defense contractors to benefit in some way. However, the biggest winners will be the ones with the most expertise in missile defense and space operations.

This includes Northrop Grumman (NYSE:NOC), which noted in its 2Q25 earnings call that its capacity to build solid rocket motors will nearly double by 2029, supporting key programs like Amazon’s (NASDAQ:AMZN) Kuiper satellite constellation. The giant has made a bigger move into space in recent years, as this segment alone employs 24,000 people with a backlog of more than $23 billion.

Then there’s RTX Corp. (NYSE:RTX), which produces the Patriot missile defense systems, SM-3 interceptors, and a wide range of radars required for missile detection. It also has a history of successful system integration, including Aegis and THAAD.

Last but not least, L3Harris (NYSE:LHX) stands out, as the takeover of Aerojet Rocketdyne has made it a prime supplier of rocket motors and space propulsion systems. It captures a fifth of the total costs of every missile program it is on, and it has widened its footprint in key programs like the STANDARD missile. It also works with Lockheed Martin (NYSE:LMT) on next-gen interceptors.

Dhierin Bechai: The Golden Dome missile defense program offers opportunities for a wide array of defense contractors. Rocket Lab (NASDAQ:RKLB) could be a frontrunner to provide launch services and space-based solutions. Lockheed Martin (NYSE:LMT) could provide primary integrator capabilities, while Northrop Grumman (NYSE:NOC) could provide next-generation interceptor capabilities. Companies such as L3Harris (NYSE:LHX) Technologies, Leonardo DRS (NASDAQ:DRS) and RTX (NYSE:RTX) could provide critical sensors (and multi-domain capabilities), which are fused and can be processed by Palantir’s (NASDAQ:PLTR) AI capabilities.

Lockheed Martin’s (NYSE:LMT) stock has been under pressure for quite some time now. A Golden Dome win could revitalize the stock’s price development. It should be noted that the size of the opportunity depends on how advanced and in-depth the program will be. That is the biggest unknown at this point.

Cappuccino Finance: An automated missile defense system consists of three major components (sensor/monitor to detect threats, a missile, and an algorithm to calculate trajectories) and each major component has several parts. It is a very complex system.

I believe many different companies will benefit from tailwinds of the Golden Dome system. Among these, Raytheon (NYSE:RTX), Amazon (NASDAQ:AMZN) and L3Harris (NYSE:LHX) stand out.

Raytheon (RTX) was a key partner in the production and development of the Iron Dome Defense System in Israel. They have a long relationship with the Rafael Advanced Defense System, and their joint venture operates a manufacturing facility in the U.S. Their experience and manufacturing capacity provide a large edge.

L3Harris (LHX) completed a $125 million expansion to support proprietary on-orbit technology, and they are expected to play a large role in the Golden Dome project.

In the algorithm and computation domain, I expect Amazon (NASDAQ:AMZN) to shine. Amazon Web Service provides a suite of technology (e.g. artificial intelligence, machine learning, and digital twin), and their top-notch cybersecurity will further secure the American sky.

• Top Aerospace and Defense Stocks
• Top Application Software Stocks